Yahoo reports that SCO has filed [.pdf] for bankruptcy in order to protect assets. "The SCO Group today announced that it filed a voluntary petition for reorganization under Chapter 11 of the United States Bankruptcy Code. SCO's subsidiary, SCO Operations, Inc., has also filed a petition for reorganization. The Board of Directors of The SCO Group have unanimously determined that Chapter 11 reorganization is in the best long-term interest of SCO and its subsidiaries, as well as its customers, shareholders, and employees." Groklaw has a story on it, too.

What I don't comprehend is the people that are/were still buying SCO stock after the court decision last month. All those schmoes that bought into SCO at $.70US only lost half their money (so far), since the stock closed at $.37US. Even so, how far out of your right mind do you have to be to buy into a company that bet the farm and watched not one but at least three tornadoes bear down on said farm? I can only surmise that P.T. Barnum was right. I think I'll buy 100 shares at a limit order of $0.05US for SCO. But make no mistake, this is not an investment on my part -- I'm going to "Ask Chuck" to send me the stock certificates and use them as gag gifts, because that's all they're worth! :-))

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What I don't comprehend is the people that are/were still buying SCO stock after the court decision last month. All those schmoes that bought into SCO at $.70US only lost half their money (so far),
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And those who bought SCOX two days after the ruling and sold a couple of weeks later made a 90% profit in just 16 days.